News Formal

GN Store Nord shares rise on acquisition of gaming firm Steelseries

  • 📰 Reuters
  • ⏱ Reading Time:
  • 32 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 16%
  • Publisher: 97%

Nigeria News News

Nigeria Nigeria Latest News,Nigeria Nigeria Headlines

Shares in Danish hearing aid and headset maker GN Store Nord rose 3% on Wednesday after it said it would buy gaming gear company Steelseries from Nordic private equity company Axcel in a deal worth 8 billion Danish crowns ($1.25 billion).

GN expects annual synergies of 150 mln Danish crownsCOPENHAGEN, Oct 6 - Shares in Danish hearing aid and headset maker GN Store Nord

"We have for some time searched for the right way for GN to enter the very interesting gaming market, being keenly interested in the 'high-end' segment," said René Svendsen-Tune, chief executive of GN Audio, the company's headset unit. "We are primarily doing it because it's a growth case. It ensures, that GN continues to be a growth company," Chief Financial Officer Peter Gormsen told Reuters.

In the first half of 2021, Steelseries posted revenue of 1.3 billion, up 56% from the same period last year, and an earnings before interest, tax and amortisation margin of 14.0%.

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 2. in NG

Nigeria Nigeria Latest News, Nigeria Nigeria Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Sainsbury’s shares rise on market speculation after private equity swoops for rival MorrisonsShares of British grocery chain Sainsbury's rose Monday after U.S. private equity firm Clayton, Dubilier & Rice narrowly won an auction for domestic rival Morrisons.
Source: CNBC - 🏆 12. / 72 Read more »